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Boris Johnson Tax Calculator - £ 4,000.00 Salary Example (£4K Salary)
This Salary and Tax Calculator is provided to illustrate how Boris Johnsons planned changes to the higher Rate Income Tax Threshold will affect a £ 4,000.00 Salary (£4K Salary). The illustration also includes an overview of a current 2023 salary example for £ 4,000.00 and an salary example for £ 4,000.00 if the personal allowance were to be increase to £30k (a solution which would affect all tax ayers, not just those who earner over £50k.
| What | Current (2019) | Boris £80k Higher Rate Threshold | iCalculator™ £30k Personal Allowance |
|---|---|---|---|
| Net Pay | 3040 | 3040 | 3040 |
| Difference | n/a | 0 | 0 |
| Take Home | 76.00% | 76.00% | 76.00% |
You can see a detailed salary overview for each of these calculations below.
About the Boris Johnson Salary Examples
In order to provide a like-for-like salary comparison against our three tax scenarios, we have used the following defaults:
- Annual Salary before tax: £ 4,000.00
- The individual is part of a company pension scheme
- An Employer Pension Contribution of 5% has been applied
- An Employee Pension Contribution of 3% has been applied
- A standard tax code has been used
- Salary is calculated over a full tax year
- There are no salary sacrifice options included
- There are no special National Insurance Contibutions rules /exemptions (Employer or Employee)
2023 Salary Example for £ 4,000.00 (Current)
| Yearly | Monthly | 4 Weekly | 2 Weekly | Weekly | Daily | Hourly | %1 | |
|---|---|---|---|---|---|---|---|---|
| Gross Income | 4,000.00 | 333.33 | 307.69 | 153.85 | 76.92 | 15.81 | 2.20 | 100.00% |
| Adjusted Gross Income2 | 3,800.00 | 316.67 | 292.31 | 146.15 | 73.08 | 15.02 | 2.09 | 95.00% |
| Company Pension: Employee | 200.00 | 16.67 | 15.38 | 7.69 | 3.85 | 0.79 | 0.11 | 5.00% |
| Company Pension: Employer | 120.00 | 10.00 | 9.23 | 4.62 | 2.31 | 0.47 | 0.07 | 3.00% |
| Taxable Pay | 3,800.00 | 316.67 | 292.31 | 146.15 | 73.08 | 15.02 | 2.09 | 95.00% |
| Tax Due [PAYE] | 760.00 | 63.33 | 58.46 | 29.23 | 14.62 | 3.00 | 0.42 | 19.00% |
| Total Pay Deductions | 960.00 | 80.00 | 73.85 | 36.92 | 18.46 | 3.79 | 0.53 | 24.00% |
| Net Pay | 3,040.00 | 253.33 | 233.85 | 116.92 | 58.46 | 12.02 | 1.67 | 76.00% |
| Salary Package [Cost of Employee] | 4,120.00 | 343.33 | 316.92 | 158.46 | 79.23 | 16.28 | 2.26 | 103.00% |
1 Percentage expressed in relation to Gross Income [£ 3,800.00].
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2023 Salary Example for £ 4,000.00 (Planned by Boris Johnson)
| Yearly | Monthly | 4 Weekly | 2 Weekly | Weekly | Daily | Hourly | %1 | |
|---|---|---|---|---|---|---|---|---|
| Gross Income | 4,000.00 | 333.33 | 307.69 | 153.85 | 76.92 | 15.81 | 2.20 | 100.00% |
| Adjusted Gross Income2 | 3,800.00 | 316.67 | 292.31 | 146.15 | 73.08 | 15.02 | 2.09 | 95.00% |
| Company Pension: Employee | 200.00 | 16.67 | 15.38 | 7.69 | 3.85 | 0.79 | 0.11 | 5.00% |
| Company Pension: Employer | 120.00 | 10.00 | 9.23 | 4.62 | 2.31 | 0.47 | 0.07 | 3.00% |
| Taxable Pay | 3,800.00 | 316.67 | 292.31 | 146.15 | 73.08 | 15.02 | 2.09 | 95.00% |
| Tax Due [PAYE] | 760.00 | 63.33 | 58.46 | 29.23 | 14.62 | 3.00 | 0.42 | 19.00% |
| Total Pay Deductions | 960.00 | 80.00 | 73.85 | 36.92 | 18.46 | 3.79 | 0.53 | 24.00% |
| Net Pay | 3,040.00 | 253.33 | 233.85 | 116.92 | 58.46 | 12.02 | 1.67 | 76.00% |
| Salary Package [Cost of Employee] | 4,120.00 | 343.33 | 316.92 | 158.46 | 79.23 | 16.28 | 2.26 | 103.00% |
1 Percentage expressed in relation to Gross Income [£ 3,800.00].
2023 Salary Example for £ 4,000.00 (Suggested by iCalculator)
| Yearly | Monthly | 4 Weekly | 2 Weekly | Weekly | Daily | Hourly | %1 | |
|---|---|---|---|---|---|---|---|---|
| Gross Income | 4,000.00 | 333.33 | 307.69 | 153.85 | 76.92 | 15.81 | 2.20 | 100.00% |
| Adjusted Gross Income2 | 3,800.00 | 316.67 | 292.31 | 146.15 | 73.08 | 15.02 | 2.09 | 95.00% |
| Company Pension: Employee | 200.00 | 16.67 | 15.38 | 7.69 | 3.85 | 0.79 | 0.11 | 5.00% |
| Company Pension: Employer | 120.00 | 10.00 | 9.23 | 4.62 | 2.31 | 0.47 | 0.07 | 3.00% |
| Taxable Pay | 3,800.00 | 316.67 | 292.31 | 146.15 | 73.08 | 15.02 | 2.09 | 95.00% |
| Tax Due [PAYE] | 760.00 | 63.33 | 58.46 | 29.23 | 14.62 | 3.00 | 0.42 | 19.00% |
| Total Pay Deductions | 960.00 | 80.00 | 73.85 | 36.92 | 18.46 | 3.79 | 0.53 | 24.00% |
| Net Pay | 3,040.00 | 253.33 | 233.85 | 116.92 | 58.46 | 12.02 | 1.67 | 76.00% |
| Salary Package [Cost of Employee] | 4,120.00 | 343.33 | 316.92 | 158.46 | 79.23 | 16.28 | 2.26 | 103.00% |
1 Percentage expressed in relation to Gross Income [£ 3,800.00].
Further Reading
Boris Johnsons Plan for changes to the Higher Rate Tax Threshold
Join the Discussion on Facebook, share your thoughts and feelings on Boris' plan.